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China's second-largest steelmaker Anshan Iron & Steel Group (Angang) is planning to acquire Lingyuan Iron & Steel Group, which will increase Angang's annual crude steel output to over 61 million mt. The acquisition is in the planning stage and needs government approval.
Ansteel Group is planning to merge with Lingyuan Steel Group, the controlling shareholder of Lingyuan Iron and Steel Co., which may result in a change of controlling shareholder for Lingyuan Steel.